Filed Pursuant to Rule 433
File No.: 333-132249-10
The depositor has filed a registration statement (including a prospectus)
with the SEC for the offering to which this communication relates. Before you
invest, you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
THE SERIES 2006-8 CERTIFICATES
Initial Class
Balance or Pass-
Component Through
Class or Component Balance(1) Rate Principal Types Interest Types
- -------------------- ------------- ------------- ---------------------------------- -------------------------------------
Offered Certificates
Class 1-A-1 (3) (4) Senior, Notional Amount Inverse Floating Rate, Interest Only
Class 1-A-2 $66,780,000 (5) Super Senior, Pass-Through Floating Rate
Class 1-A-3 $3,220,000 (6) Super Senior Support, Pass-Through Floating Rate
Class 1-A-4 $299,079,000 (7) Senior, Pass-Through Floating Rate
Class 1-A-5 (3) (8) Senior, Notional Amount Inverse Floating Rate,
Interest Only
Class 1-A-R $100 7.000% Senior, Sequential Pay Fixed Rate
Class 2-A-1 $30,595,000 (9) Super Senior, Pass-Through Floating Rate
Class 2-A-2 $7,649,000 (10) Super Senior, Pass-Through Inverse Floating Rate
Class 2-A-3 $1,844,000 6.000% Super Senior Support, Pass-Through Fixed Rate
Class X-IO (11) (11) Senior, Component Interest Only
Class X-PO (12) (12) Senior, Component Principal Only
Class 3-A-1 $57,919,000 (13) Senior, Pass-Through Variable Rate
Class XB-IO (3) 7.000% Senior, Notional Amount Fixed Rate, Interest Only
Class M $5,000,000 (14) Subordinated Variable Rate
Class B-1 $5,969,000 (14) Subordinated Variable Rate
Class B-2 $4,081,000 (14) Subordinated Variable Rate
Class B-3 $3,061,000 (14) Subordinated Variable Rate
Components
Class 1-X-IO (15) 6.000% Notional Amount Fixed Rate, Interest Only
Class 2-X-IO (15) 6.000% Notional Amount Fixed Rate, Interest Only
Class 1-X-PO $19,602,882 (16) Ratio Strip Principal Only
Class 2-X-PO $3,640 (16) Ratio Strip Principal Only
Non-Offered
Certificates
Class B-4 $2,296,000 (17) Subordinated Variable Rate
Class B-5 $1,531,000 (17) Subordinated Variable Rate
Class B-6 $1,530,579 (17) Subordinated Variable Rate
Initial Rating of
Certificates
Minimum Incremental Final Scheduled ----------------------
Class or Component Denomination Denomination Certificate Form Distribution Date(2) Fitch Moody's S&P
- -------------------- ------------- ------------- ---------------- -------------------- ----- ------- ----
Offered Certificates
Class 1-A-1 $1,000,000 $1 Book-Entry November 25, 2036 AAA Aaa None
Class 1-A-2 $1,000 $1 Book-Entry November 25, 2036 AAA Aaa AAA
Class 1-A-3 $1,000 $1 Book-Entry November 25, 2036 AAA Aa1 None
Class 1-A-4 $1,000 $1 Book-Entry November 25, 2036 AAA Aaa None
Class 1-A-5 $1,000,000 $1 Book-Entry November 25, 2036 AAA Aaa None
Interest Only
Class 1-A-R $100 N/A Definitive November 25, 2036 AAA None None
Class 2-A-1 $1,000 $1 Book-Entry November 25, 2046 AAA Aaa None
Class 2-A-2 $1,000 $1 Book-Entry November 25, 2046 AAA Aaa None
Class 2-A-3 $1,000 $1 Book-Entry November 25, 2046 AAA Aa1 None
Class X-IO $1,000,000 $1 Book-Entry November 25, 2046 AAA Aaa None
Class X-PO $25,000 $1 Book-Entry November 25, 2046 AAA Aaa None
Class 3-A-1 $1,000 $1 Book-Entry November 25, 2021 AAA Aaa None
Class XB-IO $100,000 $1 Book-Entry November 25, 2046 AAA None None
Class M $25,000 $1 Book-Entry November 25, 2046 AA+ Aa1 None
Class B-1 $25,000 $1 Book-Entry November 25, 2046 AA None None
Class B-2 $25,000 $1 Book-Entry November 25, 2046 A None None
Class B-3 $25,000 $1 Book-Entry November 25, 2046 BBB None None
Components
Class 1-X-IO N/A N/A N/A N/A N/A N/A N/A
Class 2-X-IO N/A N/A N/A N/A N/A N/A N/A
Class 1-X-PO N/A N/A N/A N/A N/A N/A N/A
Class 2-X-PO N/A N/A N/A N/A N/A N/A N/A
Non-Offered
Certificates
Class B-4 N/A N/A N/A N/A BB None None
Class B-5 N/A N/A N/A N/A B None None
Class B-6 N/A N/A N/A N/A None None None
- -------------------
(1) Approximate. The initial class balance of the offered certificates may vary
by a total of plus or minus 5%.
(2) The final scheduled distribution date represents the distribution date in
the month following the latest maturity date of any mortgage loan in the
related loan group or loan groups or the mortgage pool, as the case may be.
The actual final payment on your offered certificates could occur earlier
or later than the final scheduled distribution date.
(3) The Class 1-A-1, Class 1-A-5 and Class XB-IO Certificates are interest only
certificates, have no class balances and will bear interest on their
notional amounts (initially approximately $369,079,000, $3,075,658 and
$1,509,018, respectively).
(4) During the initial interest accrual period, interest will accrue on the
Class 1-A-1 Certificates at the rate of 1.180% per annum. During each
interest accrual period after the initial, interest will accrue on the
Class 1-A-1 Certificates at a per annum rate equal to (i) 6.500% minus (ii)
one-month LIBOR, subject to a minimum rate of 0.000% and a maximum rate of
6.500%.
(5) During the initial interest accrual period, interest will accrue on the
Class 1-A-2 Certificates at the rate of 5.770% per annum. During each
interest accrual period after the initial, interest will accrue on the
Class 1-A-2 Certificates at a per annum rate equal to (i) 0.450% plus (ii)
one-month LIBOR, subject to a minimum rate of 0.450% and a maximum rate of
7.000%.
(6) During the initial interest accrual period, interest will accrue on the
Class 1-A-3 Certificates at the rate of 5.770% per annum. During each
interest accrual period after the initial, interest will accrue on the
Class 1-A-3 Certificates at a per annum rate equal to (i) 0.450% plus (ii)
one-month LIBOR, subject to a minimum rate of 0.450% and a maximum rate of
7.000%.
(7) During the initial interest accrual period, interest will accrue on the
Class 1-A-4 Certificates at the rate of 5.770% per annum. During each
interest accrual period after the initial, interest will accrue on the
Class 1-A-4 Certificates at a per annum rate equal to (i) 0.450% plus (ii)
one-month LIBOR, subject to a minimum rate of 0.450% and a maximum rate of
7.000%.
(8) During the initial interest accrual period, interest will accrue on the
Class 1-A-5 Certificates at the rate of 6.000% per annum. During each
interest accrual period after the initial, interest will accrue on the
Class 1-A-5 Certificates at a per annum rate equal to (i) 786.000% minus
(ii) the product of 120.000 and one-month LIBOR, subject to a minimum rate
of 0.000% and a maximum rate of 6.000%.
(9) During the initial interest accrual period, interest will accrue on the
Class 2-A-1 Certificates at the rate of 5.720% per annum. During each
interest accrual period after the initial, interest will accrue on the
Class 2-A-1 Certificates at a per annum rate equal to (i) 0.400% plus (ii)
one-month LIBOR, subject to a minimum rate of 0.400% and a maximum rate of
7.500%.
(10) During the initial interest accrual period, interest will accrue on the
Class 2-A-2 Certificates at the rate of 7.120% per annum. During each
interest accrual period after the initial, interest will accrue on the
Class 2-A-2 Certificates at a per annum rate equal to (i) 28.400% minus
(ii) the product of 4.000 and one-month LIBOR, subject to a minimum rate of
0.000% and a maximum rate of 28.400%.
(11) The Class X-IO Certificates are interest only certificates and will be
deemed for purposes of distributions of interest to consist of two
components: the Class 1-X-IO and Class 2-X-IO Components. The components of
a class are not severable. The initial notional amount of the Class X-IO
Certificates will be approximately $11,648,230.
(12) The Class X-PO Certificates are principal only certificates and will be
deemed for purposes of distributions of principal to consist of two
components: the Class 1-X-PO and Class 2-X-PO Components. The components of
a class are not severable. The initial class balance of the Class X-PO
Certificates will be approximately $19,606,522.
(13) Interest will accrue on the Class 3-A-1 Certificates at a per annum rate
equal to the weighted average of the net mortgage interest rates of the
mortgage loans in loan group 3. For the initial distribution date in
November 2006, this rate is expected to be approximately 6.29103%.
(14) Interest will accrue on these Certificates for each distribution date at a
per annum rate equal to (a) the weighted average (based on the excess, if
any, of the sum of the non-PO portion of the mortgage loans in each loan
group over the sum of the class balances of the senior non-PO certificates
in the related group) of (i) with respect to loan group 1, 7.000%, (ii)
with respect to loan group 2, 6.000% and (iii) with respect to loan group
3, the weighted average of the net mortgage interest rates of the mortgage
loans in loan group 3, minus (b) 0.583244%. For the initial distribution
date in November 2006, this rate is expected to be approximately 6.250% per
annum.
(15) The Class 1-X-IO and Class 2-X-IO Components are interest only components,
have no principal balance and will bear interest on their notional amounts
(initially approximately $4,648,177 and $7,000,053, respectively).
(16) The Class 1-X-PO and 2-X-PO Components are principal only components and
will not be entitled to distributions of interest.
(17) Interest will accrue on these Certificates for each distribution date at a
per annum rate equal to the weighted average (based on the excess, if any,
of the sum of the non-PO portion of the mortgage loans in each loan group
over the sum of the class balances of the senior non-PO certificates in the
related group) of (i) with respect to loan group 1, 7.000%, (ii) with
respect to loan group 2, 6.000% and (iii) with respect to loan group 3, the
weighted average of the net mortgage interest rates of the mortgage loans
in loan group 3. For the initial distribution date in November 2006, this
rate is expected to be approximately 6.83324% per annum.
Senior Principal Distribution Amount
For the Senior Non-PO Certificates of group 1:
On each Distribution Date, the Trustee will distribute an amount equal to
the lesser of (a) the Senior Principal Distribution Amount for loan group 1 for
that Distribution Date and (b) the product of (1) the Pool Distribution Amount
for loan group 1 remaining after payment of funds due to the Trustee and
distributions of interest on the group 1 Certificates, IO Component and Class
XB-IO Certificates and (2) a fraction, the numerator of which is the Senior
Principal Distribution Amount for loan group 1 and the denominator of which is
the sum of the PO Principal Amount for loan group 1 and the Senior Principal
Distribution Amount for loan group 1, as principal, sequentially, as follows:
first, to the Class 1-A-R Certificate, until its Class Balance has been
reduced to zero; and
second, concurrently, to the Class 1-A-2, Class 1-A-3 and Class 1-A-4
Certificates, pro rata, until their Class Balances have been reduced to zero.
For the Senior Non-placePO Certificates of group 2:
On each Distribution Date, the Trustee will distribute an amount equal to
the lesser of (a) the Senior Principal Distribution Amount for loan group 2 for
that Distribution Date and (b) the product of (1) the Pool Distribution Amount
for loan group 2 remaining after payment of funds due to the Trustee and
distributions of interest on the group 2 Certificates, IO Component and Class
XB-IO Certificates and (2) a fraction, the numerator of which is the Senior
Principal Distribution Amount for loan group 2 and the denominator of which is
the sum of the PO Principal Amount for loan group 2 and the Senior Principal
Distribution Amount for loan group 2, as principal, concurrently, to the Class
2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, pro rata, until their Class
Balances have been reduced to zero.
For the Senior Non-placePO Certificates of group 3:
On each Distribution Date, the Trustee will distribute an amount equal to
the lesser of (a) the Senior Principal Distribution Amount for loan group 3 for
that Distribution Date and (b) the Pool Distribution Amount for loan group 3
remaining after payment of funds due to the Trustee and distributions of
interest on the group 3 Certificates and Class XB-IO Certificates, as principal
to the Class 3-A-1 Certificates until their Class Balance has been reduced to
zero.
The preceding distribution priorities for a group will not apply on any
Distribution Date on or after the Senior Credit Support Depletion Date. On each
of those Distribution Dates, the amount to be distributed as principal to the
Senior Non-PO Certificates of a group will be distributed, concurrently, as
principal of the classes of Senior Non-PO Certificates of that group pro rata.